Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the corect answer is 1a and 2c. pls explain 9/12/

the corect answer is 1a and 2c. pls explain 9/12/201 On 9/2, a company...

60.1K

Verified Solution

Question

Accounting

image

the corect answer is 1a and 2c. pls explain

9/12/201 On 9/2, a company purchases 400 shares of its own stock at $14.t resells 200 shares at $15 on 9/3 and purchases shares on 9/4 at $14. On 9/5 the company resells 450 shares at $9. an additional 300 1. What is true about the entry made on 9/5 A. Debit PIC-TS for $200 B. Credit Treasury Stock for $4,050 C. Debit Retained Earnings for $2,250 D. Credit Cash for $6,300 On 9/2, a company purchases 400 shares of its own stock at $14.t resells 200 shares at $15 on 9/3 and purchases an additional 300 shares on 9/4 at $14. On 9/5 the company resells 450 shares at $9. 2. Assume instead that on 9/2 and 9/4 the company purchased its tock at $15. What would happen to Retained Earnings on 9/5 Nothing-this account would not appear in this entry Debit for $4,050 Debit for $2,700 ebit for $2,300

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Graphing Quadratic Functions Complete each of the following steps for the Quadratic Function f x...

Basic Math
Q

Photochronograph Corporation (PC) manufactures time series photographic equipment. It is currently at its target debt-equity ratio of...

Finance
Q

1.Initial studies with the Wason card-selection task demonstrated that: a.People can reason with abstract material as well...

Psychology
Q

The following data represent the bachelor degrees of CEOs at area small businesses Determine the...

Statistics
Q

Consider the following frequency distribution Class Frequency Frequency 10 19 20 29 30 39 40...

Statistics
Q

A produce buyer for a juice company is buying apples He ma extra large Write...

Calculus
Q

adjusted trial balance for China Tea Company at December 31, 2018, is presented below: ...

Accounting
Q

addendum C Newlyweds Jamie Lee and Ross have had several milestones in the past...

Accounting
Q

Sales and Production Budgets. Car Products, Inc., produces car covers. Unit sales last year, ending...

Accounting
Q

ABC Company stock is expected to return 20 percent in a booming economy, 15 percent...

Accounting
Q

List down and explain 4 types of dividend policies. If you have to choose the...

Finance
Q

Example 1 Bruce & Co. expects its EBIT to be $100,000 every year forever. The...

Finance